PESHAWAR: The Khyber Pakhtunkhwa government has signed a contract with a Chinese company to build a 300-megawatt hydroelectric power plant in Balakot, an important milestone for the country’s energy sector.
According to the details, the 300 MW project will be built at an estimated cost of Rs 850 billion over six years with financial support from the Asian Development Bank.
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The ceremony was held with the Chief Minister of Khyber Pakhtunkhwa as the main guest. The relevant authorities of the Pakhtunkhwa Energy Development Organization and the China Construction Corporation signed a contractual agreement to begin the physical work on the project. In addition to members of Taimur Salim Jhagra and Himayatullah Khan’s regional cabinet, high-ranking officials from the regional energy department also attended the event.
During the meeting, the prime minister described the project as “vital for the province and an outstanding achievement for the KPK government,” adding that the project is expected to be completed by the prime minister by the middle of next month.
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Chief Minister of KPK explained that once completed, the project will play an important role in promoting industrial activities, developing the province, and creating jobs. “During the construction phase, the project will create about 4,000 jobs, and upon completion, it is expected to generate income of INR 14 billion per year.”
Chief Minister of KPK confirmed that the hydropower project’s energy would supply the local industry and local consumers at relatively lower prices. He said the current provincial government is taking results-oriented steps as part of a well-prepared strategy to ensure optimal use of its hydropower potential.
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Moreover, the Chief Minister said that hydropower projects with a total capacity of 160 MW had been completed within the framework of PEDO, and work is in progress on various other projects with a total capacity of 216 MW.
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